Method of Incorporation/registration:
The Articles of Association and the Incorporation Protocol must be signed by the shareholder(s). The minimum number of directors is one. The director must be a natural person of any nationality.
Source of Corporate Legislation:
Commercial Law of the Republic of Bulgaria – in force since 1991
Company Legal Form:
Limited company by shares with sole or multiple owners
Private local limited company
Corporate Documents and Language of Legislation:
For non-EU countries Apostille certification is necessary; Bulgarian.
Time required for Incorporation:
1-2 weeks following the provision of all the necessary documents and information
COMPANY’S NAME AND ACTIVITIY
A company may be registered with a name in Bulgarian which does not already exist. The Registry allows for companies to register the English version of the name officially.
EOOD (Sole Owner Limited Liability Company) or OOD (Limited Liability Company with several owners)
Any names related to licensed activities (Bank, Insurance, Tourist etc.)
Anything not explicitly forbidden by law, such as money laundering,smuggling operations, etc.
DIRECTORS, SHAREHOLDERS, MEETINGS
Number of Directors:
Minimum 1, only natural persons. Joint and single signature rights allowed by Law.
Local Directors Required:
Corporate Directors are not allowed.
Number of Shareholders:
Minimum 1, maximum – no limits.
Corporate Shareholders are allowed.
The company must hold a general meeting at least once per year (in order to approve the Annual Financial Report).
Locality of the Meeting:
CAPITALIZATION AND SHARES
Minimum 1 Lev per share, and minimum of 2 Leva per company. There is no maximum restriction on the amount of the share capital.
Paid Up Capital:
The full capital must be paid up into a special bank account, irrespective of the amount, and can be withdrawn after registration. The account may be transformed into a current account. The minimum
requirement for paid up capital is 2 leva.
Bearer shares are not allowed.
When transferring shares, the registration of the transaction is required by law.